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(Wireless-NewsWire.Com, October 06, 2017 ) According to Publisher, the Global Social Media Analytics market is expected to grow from $2.35 billion in 2016 to reach $11.89 billion by 2023 with a CAGR of 26.0%. Factors such as increasing cloud adoption trends, need of social media measurement to enhance the customer experience and the increasing user engagement of social media using smartphones are fueling the market growth. In addition, growing focus on engaging the existing customers and attracting new ones will drive the demand for social media analytics over the forecast period. However, complexities in analytical workflow and lack of awareness of the technology in certain countries are inhibiting the market growth.
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Social media analytics is the way of collecting data from social media websites and analyzing that data using social media analytics tools to make business decisions. Today, an increasing number of organizations rely on social media for interacting internally, as well as with external constituents. Using advanced and predictive analytics applied holistically via a centralized "command center," companies can mine growing pools of unstructured data, deliver more timely and actionable insights, and better inform business and operational strategies. The most general use of social media analytics is to mine customer sentiment to support marketing and customer service activities. Cloud technology provides a platform to deploy these solutions on global scale and at reduced cost.
Amongst end users, retail and e-Commerce industry segment is expected to have steady growth during the forecast period. The tools used by retailers help in connecting with the audience and creating brand awareness. Social media analytics is an efficient marketing tool that assists retailers in studying and analyzing sales at different stages. North America held the largest market share owing to the increasing use of social media analytics and the availability of a large target audience.
Some of the key players in global Social Media Analytics market include Adobe Systems Incorporated, Brandwatch, Clarabridge, Inc., Crimson Hexagon, Inc., Gooddata Corporation, International Business Machines Corporation, Netbase Solutions, Inc., Oracle Corporation, Salesforce, SAS Institute Inc., Simply Measured, Inc., Sysomos, Talkwalker Inc., Unmetric Inc. (US) and Digimind (US).
Analytics Types Covered:
-Diagnostic Analytics
-Predictive Analytics
-Descriptive Analytics
-Prescriptive Analytics
Deployment Models Covered:
-Cloud
-On-Premises
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Components Covered:
-Services
-Software
Applications Covered:
-Customer Experience Management
-Competitive Intelligence
-Sales and Marketing Management
-Public Safety and Law Enforcement
-Risk Management and Fraud Detection
-Other Applications
Solutions Covered:
-Meaning Extraction
-Data Aggregation
-Smart Filtering
-Consumable Analytics
-Stream Processing
-Process orchestration
-Other Solutions
Organization Sizes Covered:
-Large Enterprises
-Small and Medium-Sized Enterprises
End Users Covered:
-Government and Defense
-Retail and Ecommerce
-Travel and Hospitality
-Transportation and Logistics
-Telecommunications and IT
-Media and Entertainment
-Manufacturing
-Banking, Financial Services, and Insurance (BFSI)
-Healthcare and Life Sciences
-Energy and Utilities
-Other End Users
Regions Covered:
-North America
o US
o Canada
o Mexico
-Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
-Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
-South America
o Argentina
o Brazil
o Chile
o Rest of South America
-Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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Rajat Sahni
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Source: EmailWire.Com 
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